Market Overview - The Shanghai Composite Index fell by 0.12% on September 12, with 9 out of 28 sectors experiencing gains, led by non-ferrous metals and real estate, which rose by 1.96% and 1.51% respectively [1] - The communication sector had the largest decline, dropping by 2.13%, followed by the comprehensive sector with a decrease of 1.95% [1] Capital Flow Analysis - The net outflow of capital from the two markets reached 53.64 billion yuan, with 6 sectors seeing net inflows [1] - The non-ferrous metals sector led the net inflow with 2.168 billion yuan, while the construction and decoration sector followed with a net inflow of 721 million yuan [1] - The non-bank financial sector experienced the largest net outflow, totaling 8.138 billion yuan, followed by the electronics sector with a net outflow of 7.517 billion yuan [1] Communication Sector Performance - The communication sector saw a net outflow of 6.087 billion yuan, with 125 stocks in the sector; 50 stocks rose, including 4 that hit the daily limit, while 73 stocks fell, including 1 that hit the lower limit [2] - The top three stocks with the highest net inflow in the communication sector were Runjian Co., with 404 million yuan, followed by TeFa Information and Cambridge Technology, with 320 million yuan and 301 million yuan respectively [2] - The stocks with the largest net outflow included Xinyi Sheng, Tianfu Communication, and Changxin Bochuang, with outflows of 1.225 billion yuan, 599 million yuan, and 582 million yuan respectively [2][4]

证券代码：603083 证券简称：剑桥科技 公告编号：临 2025-058 上海剑桥科技股份有限公司 股票交易异常波动公告 特别提示 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大 遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 上海剑桥科技股份有限公司（以下简称"公司"）A 股股票于 2025 年 9 月 10 日、9 月 11 日和 9 月 12 日连续三个交易日内日收盘价格涨幅偏离值累 计达到 20%。根据《上海证券交易所交易规则》的有关规定，属于股票交易异 常波动的情况。 经向本公司控股股东 Cambridge Industries Company Limited（以下简称 "CIG 开曼"）、实际控制人 Gerald G Wong 先生及其一致行动人赵海波先生书 面征询核实，截至目前，控股股东、实际控制人及其一致行动人不存在涉及公 司的应披露而未披露的重大信息，不存在可能对公司股价形成重大影响的敏感 事项。 如公司于 2025 年 8 月 28 日披露的《股票交易风险提示性公告》（公告 编号：临 2025-053）所述："关于市场关注的 CPO（共 ...

Core Viewpoint - Cambridge Technology announced on September 12 that its A-share stock price had deviated by a cumulative increase of 20% over three consecutive trading days, indicating abnormal trading activity [1] Group 1: Company Operations - The company confirmed that there have been no significant changes in its daily operations [1] - The market environment and industry policies affecting the company have not undergone major adjustments [1] - The production costs and sales of various products have not experienced substantial fluctuations, and internal operational order remains normal [1] Group 2: Product Development - The company does not currently produce chips containing CPO technology, and the core components related to CPO, such as the optical engine and external light source (ELSFP), are still in the stages of collaborative research and design, with no business revenue generated yet [1] - The LPO business has sent samples for testing to several major North American clients, but the cumulative order and shipment amount for the first half of 2025 is only about 0.03% of the revenue for the same period, contributing minimally to the company's current performance [1]

Market Overview - The communication equipment sector experienced a decline of 2.62% on September 12, with DingTong Technology leading the drop [1] - The Shanghai Composite Index closed at 3883.69, up 0.22%, while the Shenzhen Component Index closed at 12996.38, up 0.13% [1] Top Performers - TeFa Information (000070) saw a closing price of 11.53, with a significant increase of 10.02% and a trading volume of 621,600 shares, amounting to 702 million yuan [1] - Cambridge Technology (603083) closed at 101.49, up 10.00%, with a trading volume of 355,900 shares, totaling 3.534 billion yuan [1] - Tongding Interconnection (002491) closed at 6.62, up 9.97%, with a trading volume of 1,220,300 shares, amounting to 798 million yuan [1] Underperformers - DingTong Technology (688668) closed at 111.51, down 7.84%, with a trading volume of 94,000 shares, totaling 1.086 billion yuan [2] - Tianfu Communication (300394) closed at 185.96, down 6.36%, with a trading volume of 338,500 shares, amounting to 631.9 million yuan [2] - New Yisheng (300502) closed at 359.24, down 5.44%, with a trading volume of 448,400 shares, totaling 16.137 billion yuan [2] Capital Flow - The communication equipment sector saw a net outflow of 5.104 billion yuan from institutional investors, while retail investors contributed a net inflow of 3.118 billion yuan [2][3] - Notable net inflows from retail investors were observed in TeFa Information (000070) with 291 million yuan, and Cambridge Technology (603083) with 267 million yuan [3] Summary of Individual Stocks - TeFa Information had a net inflow of 291 million yuan from institutional investors, while retail investors showed a net outflow of 151 million yuan [3] - Cambridge Technology experienced a net inflow of 267 million yuan from institutional investors, with retail investors showing a net outflow of 64.26 million yuan [3] - Tongding Interconnection had a net inflow of 72.30 million yuan from institutional investors, while retail investors had a net outflow of 29.80 million yuan [3]

Group 1 - The Guozheng Communication Index decreased by 1.94% as of September 12, 2025, with mixed performance among constituent stocks, led by Jinxin Technology with a rise of 15.21% [1] - The Communication ETF (159695) experienced a weekly increase of 11.88% as of September 11, 2025, ranking first among comparable funds [1][3] - The Communication ETF's latest scale reached 297 million yuan, marking a one-year high and also ranking first among comparable funds [3] Group 2 - The 26th China International Optoelectronic Expo took place from September 10 to 12, 2025, featuring over 3,800 global optoelectronic companies and focusing on key areas such as information communication and laser technology [4] - The communication industry showed positive growth in the first half of the year, with revenue and profit growth rates rebounding, particularly in the optical components and modules sector [4] - The top ten weighted stocks in the Guozheng Communication Index accounted for 64.43% of the index, with notable companies including Zhongji Xuchuang and ZTE [5][7]

Group 1 - The A-share market saw a collective surge in CPO concept stocks, with notable gains from companies such as Cambridge Technology, Jingwang Electronics, and Founder Technology, all reaching the daily limit up [1] - Citigroup stated that despite significant price increases in Chinese optical module stocks since the beginning of the year, profit-taking is inevitable; however, the overall narrative remains strong due to enhanced visibility of demand through 2027, warranting a revaluation of optical module companies to over 20 times earnings [1] - Target prices for companies such as Zhongji Xuchuang, Xinyi Sheng, and Tianfu Communication have been raised to 569 yuan, 472 yuan, and 196 yuan respectively, with key catalysts expected from the CIOE China Optical Expo and third-quarter performance [1] Group 2 - The following companies experienced significant price increases: Cambridge Technology (10.00%), Jingwang Electronics (10.00%), Founder Technology (9.96%), and Zhongji Xuchuang (8.31%) [2] - Year-to-date performance shows substantial gains for companies like Xinyi Sheng (336.97%) and Zhongji Xuchuang (238.97%), indicating strong market momentum [2] - The total market capitalization of these companies varies, with Jingwang Electronics at 591 billion yuan and Zhongji Xuchuang at 463.3 billion yuan, reflecting their significant market presence [2]

Group 1 - Cambridge Technology's stock rose by 5.07% to 88.12 yuan per share, with a trading volume of 2.066 billion yuan and a turnover rate of 8.95%, resulting in a total market capitalization of 23.618 billion yuan [1] - The company, established on March 14, 2006, and listed on November 10, 2017, focuses on the research, production, and sales of ICT terminal products for home, enterprise, and industrial applications based on cooperative models, primarily JDM and ODM [1] - The revenue composition of the company includes: 55.66% from telecom broadband, 28.82% from wireless networks and small base stations, 13.46% from high-speed optical modules, 2.01% from edge computing and industrial interconnection products, and 0.06% from other sources [1] Group 2 - One fund under Galaxy Fund holds a significant position in Cambridge Technology, with the Galaxy Technology Growth Mixed Initiation A (022704) holding 10,700 shares, accounting for 4.39% of the fund's net value, ranking as the eighth largest holding [2] - The fund has achieved a year-to-date return of 38.21%, ranking 1287 out of 8175 in its category, and has a total size of 8.6767 million [2] - The fund manager, Gao Peng, has been in position for 4 years and 117 days, with the fund's total assets amounting to 11.5238 million, achieving a best return of 33.54% and a worst return of -20.16% during his tenure [3]

Market Overview - The Shanghai Composite Index rose by 1.65% on September 11, with 31 out of 41 sectors experiencing gains, led by the communication and electronics sectors, which increased by 7.39% and 5.96% respectively [1] - The net inflow of capital in the two markets reached 34.518 billion yuan, with 11 sectors seeing net inflows, particularly the electronics sector, which attracted 21.723 billion yuan [1] Communication Sector - The communication sector saw a significant increase of 7.39%, with a total net capital inflow of 7.222 billion yuan, and 113 out of 125 stocks in this sector rose, including 5 stocks that hit the daily limit [2] - The top three stocks in terms of net capital inflow were NewEase (19.82 billion yuan), Zhongji Xuchuang (17.34 billion yuan), and Tianfu Communication (12.14 billion yuan) [2] - The sector also had 6 stocks with net outflows exceeding 50 million yuan, with the largest outflows from Erli San (7.25 billion yuan), China Unicom (7.12 billion yuan), and Sanwei Communication (6.38 billion yuan) [2] Capital Flow in Communication Sector - The top gainers in the communication sector included: - NewEase: +13.42% with a turnover rate of 8.60% and a capital flow of 1982.36 million yuan - Zhongji Xuchuang: +14.28% with a turnover rate of 5.94% and a capital flow of 1738.86 million yuan - Tianfu Communication: +13.54% with a turnover rate of 8.07% and a capital flow of 1214.21 million yuan [2] - The top losers in terms of capital outflow included: - Erli San: +3.96% with a turnover rate of 37.46% and a capital outflow of -7249.65 million yuan - China Unicom: +0.17% with a turnover rate of 3.31% and a capital outflow of -7116.28 million yuan - Sanwei Communication: +2.82% with a turnover rate of 53.05% and a capital outflow of -6379.34 million yuan [3]

Group 1 - F5G concept stocks increased by 5.10%, ranking fifth among concept sectors, with 35 stocks rising, including Jin Xin Nuo which hit a 20% limit up [1] - Notable gainers in the F5G sector include Zhongji Xuchuang (up 14.28%), Taicheng Guang (up 11.97%), and Shijia Guangzi (up 9.69%) [1] - The F5G concept sector saw a net inflow of 5.105 billion yuan from main funds, with 23 stocks receiving net inflows, and 10 stocks exceeding 100 million yuan in net inflows [2] Group 2 - The top net inflow stock was Zhongji Xuchuang with 1.734 billion yuan, followed by Jianqiao Technology (734 million yuan), and Huagong Technology (572 million yuan) [2] - The net inflow ratios for Jin Xin Nuo, Jianqiao Technology, and Feiling Kesi were 24.56%, 18.90%, and 12.42% respectively [3] - The trading volume and turnover rates for key stocks in the F5G sector indicate strong investor interest, with Jin Xin Nuo showing a turnover rate of 20.81% [3]

Market Overview - On September 11, A-shares opened mixed with the Shanghai Composite Index up by 0.2%, Shenzhen Component Index up by 0.93%, and ChiNext Index up by 1.57% [2] - Sectors such as CPO, PCB, and pork showed significant gains [2] Liquid Cooling Server Sector - The liquid cooling server concept saw a continuous rise, with stocks like Yidong Electronics, Fangsheng Co., and Jiechuan Intelligent rising over 10% [3] - Notable performers included: - Fangsheng Co. at 39.76, up 15.25% - Jiechuan Intelligent at 30.84, up 15.16% - Yidong Electronics at 45.55, up 11.18% [4] Semiconductor Sector - The semiconductor sector experienced a rebound, with stocks like Saiwei Microelectronics hitting the daily limit and Haiguang Information rising over 10% [7] - Key stocks included: - Saiwei Microelectronics at 67.28, up 19.99% - Yuanjie Technology at 390.92, up 16.82% [8] - Other notable stocks included: - Haiguang Information at 205.22, up 11.51% - Dongxin Co. at 97.33, up 8.83% [9]